AnnaPrior

"The fourth quarter proved to be more challenging than we expected both domestically and abroad," Chief Executive Rick Brooks said. "Weak mall traffic in December and January created a highly promotional retail environment that pressured our sales and deleveraged our cost structure."

For the current quarter, Zumiez expects a per-share loss of two cents to a per-share profit of three cents, including an estimated two cents a share for charges related to the company's Blue Tomato acquisition, and total sales of $156 million to $160 million. Analysts polled by Thomson Reuters projected a profit of 11 cents a share and sales of $160.1 million.

The company expects first-quarter same-store sales to decrease in the low-single-digit range.

The company also said its board approved the repurchase of up to an additional $30 million of its common stock, adding that the new buyback plan will begin once the previously approved repurchase program has been completed.

Zumiez, which sells apparel designed for action sports like snowboarding and skateboarding, has reported continued sales growth in recent years. The company has pushed forward with an expansion through store openings and the acquisition in 2012 of Blue Tomato, an action-sports retailer based in Austria.

Overall, Zumiez reported a profit of $26.9 million, or 89 cents a share, up from $22.9 million, or 74 cents a share, a year earlier. The latest period included benefits of 16 cents per share related to the Blue Tomato acquisition and seven cents per share for the correction of an error related to the accounting for rent expenses, amid other benefits and charges.

Revenue rose 1.1% to $226.8 million. The year-earlier period included an extra week.

The company in January had lowered its fourth-quarter outlook, citing weaker-than-expected sales over the holiday season, to a per-share profit of 56 cents to 59 cents on revenue of $226 million to $229 million.

Gross margin widened to 38.7% from 38.2%.

Same-store sales fell 2.2% for the quarter, compared with a decrease of 1% in the year-earlier period. The company in January had predicted a low-single-digit same-store sales decline for the quarter.

Through Thursday's close, the stock has slipped 6% since the start of the year.

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